Business
Sentage Holdings Inc. Announces Financial Results for the First Six Months of Fiscal Year 2023
SHANGHAI, Dec. 22, 2023 /PRNewswire/ -- Sentage Holdings Inc. (the "Company", "we", "our") (Nasdaq: SNTG), is a holding company incorporated in the Cayman
About this update from Sentage Holdings Inc.
[{"type":"text","content":"SHANGHAI, Dec. 22, 2023 /PRNewswire/ -- Sentage Holdings Inc. (the \"Company\", \"we\", \"our\") (Nasdaq: SNTG), is a holding company incorporated in the Cayman Islands with no material operations of its own. Through its China-based operating entities, the Company offers consumer loan repayment and collection management, loan recommendation, and prepaid payment network services in China. The Company today announced its financial results for the first six months of fiscal year 2023 ended June 30, 2023. The following summarizes such financial results.\n\nFinancial Highlights for the First Six Months of Fiscal Year 2023\nTotal operating revenue was $82 in the six months ended June 30, 2023, compared with $0.18 million for the same period of last year, representing a 100% decrease. The reason for the decrease in revenue was that the Company's existing business had been declining while the Company attempted to enter into new businesses.Net loss was $1.08 million in the six months ended June 30, 2023, compared with net loss of $0.96 million for the same period of last year.Basic and diluted loss per share was $0.46 in the six months ended June 30, 2023, compared with basic and diluted loss per share of $0.41 for the same period of last year.Financial Results for the First Six Months of Fiscal Year 2023\nOperating Revenue\nTotal operating revenue decreased by $0.18 million, or 100%, to $82 in the six months ended June 30, 2023, from $0.18 million for the same period of last year. The reason for the decrease in revenue was that the company's original business had been declining while the Company attempted to enter into new businesses.\nRevenue from the prepaid payment network services business decreased by $0.18 million, or 100%, to $82 in the six months ended June 30, 2023, from $0.18 million for the same period of last year. Total number of merchant customers who used the Company's prepaid payment network services was 1 in the six months ended June 30, 2023 and 8 in the same period in 2022. During the six months ended June 30, 2023 and 2022, the Company provided technology consulting and support services to these customers. The Company charged such merchant customers service fees for designing tailored payment solutions, interfacing their internal systems with the Company's prepaid card payment system, and providing their staff with r...